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Battered by overexpansion in the West, H&M is expanding into China

Marc Bain
Battered by overexpansion in the West, H&M is expanding into China

H&M’s years of investing too much money and energy in its physical stores—and not enough in its digital ones—are catching up with it. Throughout 2017 its business has looked sluggish as shoppers have increasingly passed over its brick-and-mortar locations. But H&M’s most recent quarter (pdf) was the worst yet. Sales were down more than 4%…

  • Exclusive: Aston Martin considers flying in components, changing ports to handle Brexit delays
    Finance
    Reuters

    Exclusive: Aston Martin considers flying in components, changing ports to handle Brexit delays

    Aston, which earlier this month became the first British carmaker in decades to list on the London Stock Exchange, predominately uses Dover for moving components, but there is concern the port may not be able to cope with new red tape. "The European-sourced parts, which include the engine and the

  • U.S. antitrust nod moves Linde-Praxair deal over finish line
    Finance
    Reuters

    U.S. antitrust nod moves Linde-Praxair deal over finish line

    The U.S. Federal Trade Commission said on Monday that the companies would have to divest assets in nine industrial gases product markets in United States, as part of a settlement that resolves antitrust charges. Linde said last week it had agreed with FTC staff on remedies to secure approval but that

  • Michael Spencer Takes on Oil Exec, Wife in Insider-Trading Spat
    Finance
    Bloomberg

    Michael Spencer Takes on Oil Exec, Wife in Insider-Trading Spat

    FCFM, which is chaired by Spencer, alleges that Peter Young and his wife tried to buy stock in a small oil firm on the eve of a major acquisition, which caused the shares to gain more than 170 percent. The investment firm was dealt a setback on Thursday, when a London judge rejected its attempt to get

  • Netflix Is Selling $2 Billion of Junk Bonds to Fund New Shows
    Finance
    Bloomberg

    Netflix Is Selling $2 Billion of Junk Bonds to Fund New Shows

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  • Stocks Drop as China Rally Ignored; Dollar Gains: Markets Wrap
    Finance
    Bloomberg

    Stocks Drop as China Rally Ignored; Dollar Gains: Markets Wrap

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  • Jacobs to Sell Energy Business to WorleyParsons for $3.3 Billion
    Finance
    Bloomberg

    Jacobs to Sell Energy Business to WorleyParsons for $3.3 Billion

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  • Oil slips below $80 after Saudi pledges rapid output rise
    Finance
    Reuters

    Oil slips below $80 after Saudi pledges rapid output rise

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  • Hasbro, trying to find footing, posts weak 3Q
    Finance
    The Canadian Press

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  • Netflix unveils $2 billion debt issue to fund new content
    Finance
    Reuters

    Netflix unveils $2 billion debt issue to fund new content

    Netflix Inc announced its third tap of debt markets in a year on Monday, aiming to raise about $2 billion as the streaming video pioneer invests heavily in original shows and acquiring content to fend off intensifying competition. Netflix bond prices were little moved immediately after the announcement

  • Italy Won’t Back Down on Budget Deficit
    Finance
    Bloomberg

    Italy Won’t Back Down on Budget Deficit

    In a letter to the European Commission published Monday, Finance Minister Giovanni Tria said he won’t let the country’s budget deficit widen further than the 2.4 percent target for 2019. Prime Minister Giuseppe Conte said the shortfall could even come in below target. Conte and Tria have come under

  • Carl Icahn Rides Cargo Boom to $1.34 Billion Sale of Train-Car Maker
    Finance
    Bloomberg

    Carl Icahn Rides Cargo Boom to $1.34 Billion Sale of Train-Car Maker

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  • Finance
    The Canadian Press

    Company gauges interest for boosting Dakota Access capacity

    The developer of the Dakota Access pipeline is gauging shippers' interest in a possible expansion of the volume of crude oil moved through the pipeline from 500,000 barrels to 570,000 barrels per day, despite ongoing tribal efforts to shut the pipeline down. Texas-based Energy Transfer Partners

  • Uranium Market’s Aramco Unveils London IPO Despite Trump Threat
    Finance
    Bloomberg

    Uranium Market’s Aramco Unveils London IPO Despite Trump Threat

    Kazatomprom, the world’s No. 1 producer of the nuclear fuel, on Monday said it would list as much as 25 percent of its equity in London and the Kazakh capital Astana. The potential listing of a company that accounts for a fifth of global supplies of uranium offers a rare glimpse into a sector dominated

  • Markets Right Now: US stocks open slightly higher
    Finance
    The Canadian Press

    Markets Right Now: US stocks open slightly higher

    NEW YORK — The latest on developments in financial markets (all times local):

  • Global banks curb China travel after UBS banker stopped from leaving
    Finance
    Reuters

    Global banks curb China travel after UBS banker stopped from leaving

    BNP Paribas and JPMorgan have also asked their private banking employees to reconsider their China travel plans after the authorities' action against the UBS banker, two people familiar with the matter said. Swiss private bank Julius Baer, which manages assets worth $390 billion globally, has asked

  • Stocks lose early gains ahead of full week of earnings reports
    Finance
    Yahoo Finance

    Stocks lose early gains ahead of full week of earnings reports

    Investors are looking to a full week of earnings releases, with a third of S&P 500 companies across all 11 sectors set to report this week.

  • U.S. Existing-Home Sales Fall to Lowest Since 2015
    Finance
    Bloomberg

    U.S. Existing-Home Sales Fall to Lowest Since 2015

    The sixth-straight monthly drop in sales, the longest streak since 2014, underscores what’s now a challenging time in the real estate market for buyers. The drag from higher mortgage rates is “likely to weigh on the existing home sales data in upcoming reports over the next several months,” Daniel Silver

  • Linde, Praxair Win U.S. Antitrust Nod to Create Gas Giant
    Finance
    Bloomberg

    Linde, Praxair Win U.S. Antitrust Nod to Create Gas Giant

    The Federal Trade Commission said Monday it approved the deal on the condition that Linde and Praxair sell assets to resolve concerns that the combination would otherwise hurt competition. A spokesperson for Praxair was not immediately available to comment. Linde shares tendered as part of the deal

  • Humming Corporate Profit Engine to Keep Driving Brazil Rally
    Finance
    Bloomberg

    Humming Corporate Profit Engine to Keep Driving Brazil Rally

    Uncertainty is easing as Jair Bolsonaro seems poised to clinch the presidency, while the Brazilian real’s depreciation was offset by higher commodity prices and a low-rate environment during past quarter. About half of Ibovespa-listed companies will see growth in earnings before interest and other items

  • What Rotation? Value Stocks Are Nowhere Near as Popular as Claimed
    Finance
    Bloomberg

    What Rotation? Value Stocks Are Nowhere Near as Popular as Claimed

    During this month’s market sell-off, the MSCI World Value Index outperformed growth stocks, fueling speculation about a switch into cheaper equities. Global value stocks started outperforming growth equities in September, leading to calls from strategists, including those at Deutsche Bank AG, for a

  • Snapchat is no longer the most-used social app among teens
    Finance
    Yahoo Finance

    Snapchat is no longer the most-used social app among teens

    Teens say they favor Snapchat. But they'll now tell you that they use Instagram more.

  • Another European Stock Rally Falters as Dead-Cat Bounces Abound
    Finance
    Bloomberg

    Another European Stock Rally Falters as Dead-Cat Bounces Abound

    The Stoxx Europe 600’s strong open on Monday began to falter as U.S. stocks headed for their fourth straight day of declines. The country’s populist leaders told the European Union it is willing to temper its budget next year and Moody’s Investors Service at least didn’t downgrade its debt to junk,

  • Apple's iPhone is still the 'dominant device brand' among American teens (AAPL)
    Finance
    Business Insider

    Apple's iPhone is still the 'dominant device brand' among American teens (AAPL)

    Apple's iPhone is dominant among American teens. 82% of teens surveyed say they own an iPhone. 86% say their next phone will be an iPhone — compared to just 10% who say their next device will run Google's Android.

  • Italy tells EU no change to budget, but will keep eye on debt, deficit
    Finance
    Reuters

    Italy tells EU no change to budget, but will keep eye on debt, deficit

    In a letter to the Commission, Economy Minister Giovanni Tria said he recognized that the budget, which is set to hike next year's deficit to 2.4 percent of gross domestic product (GDP), was not in line with the EU Stability and Growth Pact. "(The budget) was a hard, but necessary decision

  • U.K. Bond Giant Bumps CDS to Record, Frets ETF ‘Blowout’ by 2020
    Finance
    Bloomberg

    U.K. Bond Giant Bumps CDS to Record, Frets ETF ‘Blowout’ by 2020

    As bouts of late-cycle volatility prompt fears of an impending race for the exits, Aberdeen Standard Investments has been scooping up securities with greater liquidity relative to cash bonds, like credit default swaps. “If you’ve been in the market long enough to remember past blowouts, you know that